CVB Financial Corp. (CVBF) to Release Quarterly Earnings on Wednesday
CVB Financial Corp. (NASDAQ:CVBF) will announce its Q316 earnings results on Wednesday, October 19th. Analysts expect the company to announce earnings of $0.24 per share and revenue of $66.91 million for the quarter.
Shares of CVB Financial Corp. (NASDAQ:CVBF) opened at 17.10 on Tuesday. CVB Financial Corp. has a 1-year low of $14.02 and a 1-year high of $18.77. The firm has a market cap of $1.85 billion, a PE ratio of 17.47 and a beta of 1.56. The company has a 50-day moving average of $17.42 and a 200-day moving average of $17.02.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Wednesday, October 5th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Monday, October 3rd. CVB Financial Corp.’s dividend payout ratio (DPR) is 48.98%.
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In other news, CEO Christopher D. Myers sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $17.00, for a total value of $425,000.00. Following the completion of the sale, the chief executive officer now directly owns 355,052 shares of the company’s stock, valued at $6,035,884. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David A. Brager sold 8,000 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $17.08, for a total value of $136,640.00. Following the completion of the sale, the executive vice president now directly owns 25,113 shares of the company’s stock, valued at $428,930.04. The disclosure for this sale can be found here. 7.80% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of CVBF. BlackRock Investment Management LLC boosted its stake in CVB Financial Corp. by 4.7% in the second quarter. BlackRock Investment Management LLC now owns 463,895 shares of the financial services provider’s stock valued at $7,603,000 after buying an additional 20,620 shares during the period. BlackRock Inc. boosted its stake in CVB Financial Corp. by 288.3% in the second quarter. BlackRock Inc. now owns 27,888 shares of the financial services provider’s stock valued at $457,000 after buying an additional 20,706 shares during the period. BlackRock Fund Advisors boosted its stake in CVB Financial Corp. by 2.1% in the second quarter. BlackRock Fund Advisors now owns 6,417,991 shares of the financial services provider’s stock valued at $105,191,000 after buying an additional 132,738 shares during the period. BlackRock Group LTD boosted its stake in CVB Financial Corp. by 8.1% in the second quarter. BlackRock Group LTD now owns 154,450 shares of the financial services provider’s stock valued at $2,531,000 after buying an additional 11,517 shares during the period. Finally, US Bancorp DE boosted its stake in CVB Financial Corp. by 6.9% in the second quarter. US Bancorp DE now owns 37,535 shares of the financial services provider’s stock valued at $615,000 after buying an additional 2,431 shares during the period. 65.36% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on CVBF. Zacks Investment Research downgraded CVB Financial Corp. from a “hold” rating to a “sell” rating in a report on Thursday, July 28th. Keefe, Bruyette & Woods upped their price target on CVB Financial Corp. from $17.00 to $18.00 and gave the company a “market perform” rating in a report on Tuesday, September 27th. DA Davidson reaffirmed a “hold” rating and issued a $18.00 price target on shares of CVB Financial Corp. in a report on Monday, September 26th. Finally, Hovde Group began coverage on CVB Financial Corp. in a report on Wednesday, June 22nd. They issued a “market perform” rating and a $17.00 price target for the company. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $18.25.
About CVB Financial Corp.
CVB Financial Corp. is the bank holding company for Citizens Business Bank (the Bank). The Bank’s segments include Business Financial and Commercial Banking Centers (Centers), Treasury and Others. The Company’s all administrative and other smaller operating departments are combined into the Other segment.
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